PNoy lectures but vows justice for Aman Futures victims

by Willard Cheng, ABS-CBN News

Gov't warned investors in July but was called "killjoy"

TAGAYTAY - President Aquino vowed justice for the victims of the pyramiding scam involving Aman Futures, saying efforts are ongoing to hunt down and build a case against the perpetrators.

Speaking to reporters, Aquino said the Philippines may invoke the Mutual Legal Assistance Treaty (MLAT) that exists within the ASEAN to cause the repatriation of Aman Futures founder Manuel Amalilio who has reportedly fled to Malaysia. The Philippines has no extradition treaty with Malaysia.

The National Bureau of Investigation is now coordinating with the Malaysian Embassy, according to Aquino.

But at the same time, Aquino pointed out that the government had started to move against the pyramid scam and warned investors early on but was rebuffed.

The President said the DTI had warned investors as early as July, and the SEC in August, against the pyramid scheme. He said investors rebuffed NBI investigators who had began probing on Aman Futures.

Aquino declined to comment when asked if Pagadian Mayor Samuel Co will also be held liable for issuing the permits for Aman Futures to operate. Aquino said no direct evidence has been seen so far on Co's possible liability.